Luck or Innovation09/26/2019
When a business owner faces difficulty he or she must respond properly or their business could pay the price. A financial setback, unexpected bills, or a stagnant economy may force a business owner to make a crucial decision. An Owner can draw on their experience to help them make the decision, or they may try something new. Adversity is often the spark that lights the fuse of innovation.
Many innovations stem from small business owners attempts to improve their standard of living. Corporate research and development departments are focused on the long term. While new products are often the result, it is small businesses that drive the discovery of new ideas. Financial hardship is often the catalyst necessary to spur innovative ideas and cost-saving techniques.
The desire to streamline production and lower cost inspired Henry Ford to transition to the assembly line. Johannes Gutenberg created the modern printing press which allowed information to be distributed globally and reduced the cost of printed paper making it affordable for the average person. Edward Jenner was the first person recorded to have created a vaccine. His smallpox vaccine has saved countless lives. Before the vaccine, over 500 million people had died from smallpox. Hardship often triggers innovation. But it is the desire to solve a problem that promotes new solutions.
Successful Business Owners are adept at solving problems. However, Business Owners, like everyone else, are frustrated when things don't go as planned. Once a task has gone off course, adjustments must be made to assure the desired outcome. It is these adjustments that occasionally lead to substantial improvements in completing the task.
At times these innovations are purposeful and directed, the innovator knows what they are trying to accomplish, and success leads to remarkable growth. More often than not, innovations are the product of a mishap or a hardship that incites change. In these cases, the innovator does not immediately recognize their remarkable discovery.
Whether the result was planned or fortunate, innovations often change the world. As businesses work to generate more income they often create new processes, products, and methods that improve their business but also propel mankind forward. So the next time you are frustrated because something is going wrong. Relax, focus on the problem and come up with a solution. The outcome may not change the world, but it may change your business.